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Crédit Mutuel Arkéa is involved in a case that, according to crypto journalist Gregory Raymond, does not fit the usual image of cryptocurrency theft, which often evokes the idea of hackers stealing bitcoins. Instead, Raymond points out that euros were taken out of the bank before being used in a different way.
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Crédit Mutuel Arkéa was previously identified as the victim in a $133 million fraud involving crypto laundering, according to details shared by blockchain investigator ZachXBT. Gregory Raymond has reported on related developments in prior coverage. Separately, he noted that the New York Stock Exchange planned to operate markets on Hyperliquid through Trade XYZ in an earlier article.